Received a new offer that gives:
401k: 4% match and 7% contribution regardless
Pension: after one year with 4% match and then they give 2% regardless.

1. Are 401k’s like that where you receive money regardless? Sounds a little too good to be true?
2. Is it normal to be able to contribute to a pension?

like
Posting as :
works at
You are currently posting as works at

These are excellent benefits- much more than you will see most places. Some companies do offer a flat contribution but usually I only see match. Both is certainly a nice benefit!

I'm sorry I have no idea how pensions work as most companies phased them out years ago.

like

Yes this is normal. A small annual contribution can be normal.
401Ks are not pensions. Pensions were generally eradicated around the 2008 financial crisis, but some still exist and are rare. 401Ks are an account used for investments. They were never made for retirement, but now many have latched on to them to build a retirement fund with companies helping contribute instead of a pension for retirement to eventually push you out.

My old workplace has a similar policy.
My new place gives us RSUs along with the rest of the benefits. I opted to get much more of my pay in the form of RSUs rather cash since historically they increase more if the business is doing well.

401k is better than most that only match, but getting a direct contribution is not unheard of

I get 4% match and I put away 11% on my own. We get excellent benefits and 401k is important for your retirement.

That is a strong retirement offering. Not gonna lie, I am a bit jealous.

I get 7% employer match and it’s pretty decent

Related Posts

like

I'm early in my career, managed to save $30K to invest, and want to get my hands dirty with a rental property without too much risk (e.g. no HML/flipping). It sounds like that's a tall order in the NY/CT area given the prices, not to mention whether I'd be able to get a mortgage on anything below $100K, but I figure I'll give it a shot anyway. Any advice on what you might do in my position? Am I being crazy with this idea?

like

Due to a family situation we are looking to move to a different state. Normally we would sell our current home and buy a new home in our new location. However, with todays prices and interest, will it make more sense to rent out our current home and rent a home ourselves vs. selling and buying immediately when we move? We are moving from Vegas to Sacramento and we are not sure how long we would stay in the new area. Thoughts?

Is 400k gbp all in (175 base + 225 bonus) decent for a VP2?
This is at a UMM fund. Carry c £1.5m but who knows when that will come…

like

FYI Amex offer for Allen Edmonds. Spend $300 get $90

like

Other than Fidelity, what's the best brokerage account out there? Looking for something visual that allows fractional shares and portfolio insights.

like

Australia onsite offer from a company for my cousin. Tenure is 2 years
Package is 7000 AUD per month
Work location is Sydney
Is this enough for a couple to live there?
Can we save some money?
What is the cost of living there? How about tax?
Assume like everything they have to buy in Australia from scratch

Need your suggestions

TIA

like

How serious are the independence/investment declarations while joining Big4’s in the U.K.
My parents have a couple of minor investments in the stock market. Do I have to include my parents investments even if they are citizens of another country and invest only within that country?

like

Thoughts on buying a house now? Lease is up in January. Can finally afford to buy. But would it be better to wait until next year in case of recession -> foreclosure market -> better deals? WDYT

like

What are you doing for a retirement plan as an independent consultant? Solo 401K, SEP IRA, etc.? Any recommendations on where to open an account?

like

When did you buy a home?

I’ll be working near a big market at 85% BigLaw salary. I have student loans to pay off, but considering getting into the market early with a low money down option.

likehelpful

Does anyone here have a Tesla? Should I do it???...

like

Hey fishes, i need advice as to how to invest 200k? Should i go for individual stocks or funds or should i go to financial advisor? If individual stocks then looking for sectors. Can i invest as a VC? Any thoughts or direction please

like

Folks making more than £100K: How do you deal with the 60% effective tax rate on the 100-125K bracket? (HMRC gradually reduces your £12,750 personal tax-free allowance to £0.)

This is the first time it is happening to me. With one month to go until the end of the tax year, I'm thinking of making a one-off extra pension contribution next payroll.

Any other effective strategies with only one month to go?

like

I have a prospect who is a US resident living in Canada on a temporary work visa. They are being told by their advisor that they must liquidate all their accounts (brokerage, IRA, and 529). ...

like

Is it worth it to buy a multi-family home to rent out?

like

How well can I live in Chicago on $55,000 a year? Also, I have no student loan debt coming out of undergrad.

like

Do any of you guys use Microsoft Excel or anything like that when doing financial planning? Like for example having an excel spread sheet where you type in clients income, and income when retired

like

I’m living off $47k post-deductions (401k, etc, but not taxes) in a T2 city. What are some good money saving tips and tricks for relatively low income consultants in their early 20s?

like

More Posts

Good battle of Ardbeg heavyweights. Winner: Corryvreckan! If you aren’t used to high ABV and heavily peated whisky, be sure to use water to tame these beasts!😂😂😂

Post Photo
like

Been wanting to start a Consultancy that offers employment help to individuals. Any ideas on the success rate or how to start networking to have actual clients coming to me? What are the pros and cons?

like

How much does KPMG KGS offer for
Role: Consultant
Location: Pune
YOE: 9
Profile: BA, Financial Services Solutions

KPMG sent offer letter and it had a password that would expire in 10 min.... what the hell is that 😕😕 Also....first they sent me a mail that my offer has been cancelled...after that they sent me an offer letter that had to be accepted in 10 min @KPMG

like
like

#Urgent and Active Openings

L&T Infotech is hiring Pan India for below roles: Interested people can drop their email id's and Names with respective Job Id's .

Post Photo
like

Hi All,, Can I get any reference for Data Engineer?? I have 5+ yrs of Big data and spark exp.

like

I am looking to get into consulting firms in the Netherlands preferably in M&A space.
Does anyone have a recommendation for a recruiter or recruitment firm who could help me?
I have close to 3 years of experience in Financial due diligence and valuation. I am also a newly qualified ACCA accountant.
Open to share more details

like

What firms do higher variable comp? I’m familiar with A&M’s model, but curious if there are others. Figure if I’m busting it, might as well get compensated for it.

like

Can i get released from project while being on notice period ?

like

Just in time for busy season - latest Facebook watch raffle group win - Ball Engineer M Marvelight NM2128C-S1C-GY, an upgrade from my Tag - have a great afternoon fellow watch lovers!

Post Photo
like

Calm down! :))

Post Photo
funnylike

Hiring managers: What do you read on a resume?

Do you only look for the portfolio URL?

Is a bulleted list helpful if you’ve never heard of the agencies?

Do you truly care about software skills?

like

Is there a scientific reason why we get songs stuck in our heads? How come we don’t really experience this kind of thing with our other senses?

like

Anybody know of any art director positions open?

like

Hi everyone!

Currently in social media marketing but looking to transition to a career in SEO/SEM. Any tips or advice you can give? As well as recommendations for companies I can look into?

like

Guys very much off topic .
Any housing project in Bangalore which you can term it as cheap and best and location not a constraint.

like
like

Additional Posts in Employee Benefits

Question for BAH - are you able to expense taxi/uber for after hour safety from your holiday event to home? I know most companies let you and so does Deloitte. Asking for a Booz friend.

Deloitte 🐠🐟 in the DC area, which health plan do you recommend? I'm with Kaiser and it was a huge mistake. I'm looking to switch for 2020!

Interested in getting opinions on Wipflis benefits

like

Does EY help pay for hearing aids? Starting full time this fall and I think I remember reading something about it when I interned but I no longer have access

like

My firm doesn’t match my 401k — still worth opting in?

like

Who has the best parental leave policies? Need advice

like

Anyone use the Apple Card to buy iPhone on monthly installments and submit Apple statements for the cell reimbursement? Or do we have to buy phone through cell carrier?

like

For advisory folks at KPMG, what's your meal limit for breakfast, lunch and dinner?

likehelpful

What are benefits like at Accenture?

Will GYMPASS be an additional benefit on top of the $500 EY wellness benefit? What is it?

likehelpful

Has anyone successfully used an education benefit? What's the process?

Im interested buta little nervous about my firm because you have to pay up front and then get reimbursed.

like

How does pwc’s wealth builder plan work ?

like

What is the salary for an entry level audit associate in NYC?

like

Can someone recommend affordable health insurance? I left the firm earlier and am expecting a gap of medical coverage until I find a job. Currently not actively seeking either...

Bain & Company PPO health insurance only! Post your firm's biweekly premium (employee deduction) and whether it's employee, employee+spouse or employee+family.

Deloitte Accenture EY PwC Boston Consulting Group McKinsey & Company Bain & Company KPMG

like

Does any firm reimburse for part time MBA ? Thinking of applying for Booth part time MBA

EY advisory laptops - do you get to choose a model or is one just randomly assigned to you?

like

When you finally got your CPA license how much has your salary jumped ?

like

I don't want to ask the Mck recruiter more questions. Can someone explain the differences in the Profit Sharing Retirement Plan and the Money Purchase Pension Plan? Does Mck contribute to both?

529 Plan VERSUS Prepaid

We live in Florida and currently have a Freshman in High School and a 16 month old. We hear from our friends and family with college bound children "I wish we would have done Florida PrePaid." After obviously ignoring this for years, we are finally trying to do it before "it's too late" for both children.

Does anyone have recommendations on which plan to go with for each child? I once did the pros and cons on a whiteboard and it seemed like 529 was better.

like

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal